Form a new LLC or put new properties in Out-of-State LLC?

Form a new LLC or put new properties in Out-of-State LLC?

Rental Property Investor · Saint Augustine · Member since 2019 · 26 posts · 7 votes

I am trying to find the best way to buy two potential properties. I currently have a Georgia LLC that manages my 1 Georgia property. The property is in my name so that LLC technically doesn't own anything. I currently live in Florida and am looking to buy 2 houses very soon. I have been struggling with how to purchase the houses. Should I purchase them in my Georgia LLC, create a new Florida LLC, or use my own name? Florida does not have State income tax. So if I purchase a house in Florida with my Georgia LLC, would I have to pay Georgia state taxes from my rental income? I am using these housing for long-term rentals. Thanks everyone!

0Reply
6 views

No replies yet. Be the first to reply to this discussion.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.